This morning, Virgin America announced their plan to make an initial public offering. While the airline is moving forward with the IPO, they have not yet announced the number of shares that will be offered, nor the price at which they will be offered.
Virgin America has been active since 2007, powered by British entrepreneur, eccentric, and space enthusiast Richard Branson. While Branson owns a minority stake, he is well known for being the face of Virgin companies. Virgin America has been considering the IPO for some time.
Currently, Virgin America is based in San Francisco, with a secondary base in Los Angeles. They serve over twenty cities, mostly large cities that are popular for business or leisure, such as Cancun, Palm Springs, and Los Cabos. Barclays and Deutsche Bank will work to underwrite the offering.
This article is from the archive of our partner The Wire.